Friday March 21, 2014

It looks like BlackBerry is taking a page out of Sony's playbook by selling off property to generate some much needed cash.

The real estate sale is just the latest move by CEO John Chen to help BlackBerry raise cash and decrease its expenses. The Waterloo, Ontario-based company has watched its sales plummet over the last couple of years, and last year entered into a deal to raise $1 billion via convertible debt with equity firm Fairfax Financial. In January, Fairfax announced plans to invest another $250 million in BlackBerry.